Is it overvalued？ 37 billion become 8 billion, NIO IPO valuation shrinks

1.37 billion 8 billion NIO IPO valuation slumped

A week ago, NIO formally filed an initial public offering (IPO) prospectus with the Securities Exchange Commission, applying to list on the New York Stock Exchange under the ticker symbol "NIO", and plans to raise $1.80 billion. Previously, NIO’s valuation reached a high of $37 billion.

A week later, on August 21, NIO, which was in the IPO roadshow, was revealed to have a valuation asking price of only $80-10 billion, the difference between the previous valuation of $37 billion and $29 billion. However, it is worth noting that NIO internally set its price-to-earnings ratio target for the next five years at 10 times. According to NIO’s valuation asking price in the IPO roadshow, if NIO wants to achieve the price-to-earnings ratio target of 10 times in 2023, NIO must achieve a net profit of $8-1 billion in that year.

2.BMW blames South Korea and car owners for spontaneous combustion

According to foreign media reports, a BMW spokesperson said that the traffic conditions in South Korea and the way of driving BMW cars are the reasons for the continuous spontaneous combustion of BMW cars in South Korea, which has aroused public anger in South Korea.

"The BMW spokesperson’s remarks indicate that BMW headquarters is trying to shift the blame for the spontaneous combustion of vehicles to Korean and BMW owners in order to cover up the defects of their vehicles themselves." In response, BMW Korea said the Xinhua News Agency report was a mistranslation of the original German interview. A BMW Korea spokesperson said, "There are many situations that cause the spontaneous combustion of the exhaust gas recirculation unit (EGR), which Frey tried to explain but were misunderstood." BMW Korea said it was very sorry that the Xinhua News Agency report blamed the spontaneous combustion of the BMW on the specific situation in South Korea, and had asked Xinhua News Agency to correct its report.

3.Geely’s new Colorful is about to debut

Not long ago, Geely announced that its new SUV Geely SX11 was officially named Binyue. Binyue will be officially released tomorrow. As the first A-class SUV model with Geely’s new BMA modular architecture, the new car adopts the design concept of "Time Racing Aesthetics" in appearance and shape, and the interior design is also more youthful and fashionable. In terms of power, the new car will be equipped with a 1.5TD engine and a 100-kilometer acceleration time of 7.9 seconds.

4.London Trials "Low Emission" Roads, Bans Non-Electric Vehicles

The City of London is considering banning non-electric cars from a special "low-emission" street, according to foreign media reports, in a pilot project that highlights the severity of the air pollution crisis in the British capital’s financial center.

An "ultra-low emission" motor street, with only electric cars and plug-in hybrids, may be piloted, according to the City air quality manager. "We realise that the ultra-low emission zone [introduced by London mayor Sadiq Khan] is not yet sufficient for us to meet our emission limits, so we will have to consider additional measures on the busiest streets," the manager said.

5.US to impose 25% tariff on European Union car imports

According to foreign media reports, President Trump said on the evening of August 21 local time that the United States will impose a 25% tariff on all European Union imported cars.

Mr. Ross told The Wall Street Journal that it was unclear whether a report on potential tariffs would be released by the end of August. He also declined to set a new timetable, according to the newspaper. Mr. Ross said the report had been delayed because the United States was currently negotiating with Mexico, Canada and the European Union Commission.